Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector. 

Equity Research experience of over 20 years. Earlier, Analyst for leading Buy and Sell-side institutions, covering markets in ASEAN, India, and North Asia. Expertise spans various sectors - Consumer Discretionary, Media, Textiles, Oil, Gas, and Coal.
Passionate about mindfulness and meditation.

Investment Research - Asia Consumer Sector

Consumer Tales Aug Wk#4: Beer in China, Ola's Path to Profits, Kalyan Jewellers' Quiet Confidence

Global Consumer (Midweek Update): Consumer Woes Persist, Especially in China.

Consumer Weekly. China Macro, US Auto Data, Visa, Coca-Cola, Wendy's, Mondelez, Campari, Ally

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

China Resources Beer Holdings / Equity Bottom-Up

<ul>
<li>Stock valuations for China's top beer players are near historical lows, but is a recovery on the horizon? Will it ever return to the heady valuations of 2019-2020?</li>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-beer-holdings" target="_blank" data-smartkarma-citation="entities:399:1" rel="noopener">China Resources Beer Holdings (291 HK)</a> and <a href="https://www.smartkarma.com/entities/budweiser-brewing-co-apac-ltd" target="_blank" data-smartkarma-citation="entities:28077:1" rel="noopener">Budweiser Brewing APAC (1876 HK)</a> have reported 1H2024 results showing a decline in sales volumes, attributed to several short term factors.</li>
<li>We highlight long-term factors, including an aging population and shifting consumer habits, that could limit sustained growth in China's alcoholic beverage market.</li>
</ul>


Stock valuations for China's top beer players are near historical lows, but is a recovery on the horizon? Will it ever return to the heady valuations of 2019-2020?

China Resources Beer Holdings (291 HK) and Budweiser Brewing APAC (1876 HK) have reported 1H2024 results showing a decline in sales volumes, attributed to several short term factors.
We highlight long-term factors, including an aging population and shifting consumer habits, that could limit sustained growth in China's alcoholic beverage market.


Beer in China: 1H2024 Low Point—What Lies Ahead?